CRA Financial Information

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The Coral Springs CRA is primarily funded by Tax Increment Financing (TIF), which is the traditional funding mechanism for CRAs. In accordance with Chapter 163 Part III of the Florida Statutes, TIF payments are equal to 95% of the increase in tax revenue generated by the increase in property values in the redevelopment area and are used within the redevelopment area to finance additional projects. Properties located in the CRA district do not pay any additional property taxes. The greater the increase in taxable property values over the CRA’s base year (2011 for County and 2002 for other taxing authorities), the larger the incremental increase in revenues transferred to the CRA.

Budgets: